Malibu Boats, Inc. (NASDAQ:MBUU) Receives $36.50 Consensus PT from Brokerages

Shares of Malibu Boats, Inc. (NASDAQ:MBUU) have earned a consensus recommendation of “Reduce” from the nine analysts that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $36.50.

Several research analysts recently weighed in on MBUU shares. Weiss Ratings restated a “sell (d)” rating on shares of Malibu Boats in a research note on Monday. Truist Financial upped their target price on Malibu Boats from $30.00 to $37.00 and gave the company a “hold” rating in a research report on Tuesday, October 28th. Zacks Research cut Malibu Boats from a “hold” rating to a “strong sell” rating in a research note on Friday, November 28th. DA Davidson reduced their price target on shares of Malibu Boats from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Monday, September 8th. Finally, B. Riley decreased their target price on shares of Malibu Boats from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, November 25th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Malibu Boats by 532.3% in the 2nd quarter. GAMMA Investing LLC now owns 999 shares of the company’s stock worth $31,000 after purchasing an additional 841 shares during the period. BNP Paribas Financial Markets raised its position in Malibu Boats by 43.3% during the second quarter. BNP Paribas Financial Markets now owns 2,128 shares of the company’s stock worth $67,000 after acquiring an additional 643 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Malibu Boats by 346.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,321 shares of the company’s stock valued at $73,000 after purchasing an additional 1,801 shares during the period. Strs Ohio acquired a new position in shares of Malibu Boats during the 1st quarter worth about $123,000. Finally, Millennium Management LLC acquired a new stake in Malibu Boats in the 3rd quarter worth about $211,000. Institutional investors and hedge funds own 91.35% of the company’s stock.

Malibu Boats Price Performance

NASDAQ MBUU opened at $29.42 on Wednesday. The company has a market cap of $565.75 million, a PE ratio of 30.02 and a beta of 1.20. Malibu Boats has a 52-week low of $24.07 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.68 and a current ratio of 1.63. The firm’s 50 day moving average price is $28.72 and its 200-day moving average price is $31.77.

Malibu Boats (NASDAQ:MBUU) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. The firm had revenue of $194.73 million during the quarter, compared to analyst estimates of $182.09 million. Malibu Boats had a return on equity of 5.28% and a net margin of 2.31%.The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Sell-side analysts forecast that Malibu Boats will post 1.69 EPS for the current fiscal year.

Malibu Boats announced that its Board of Directors has approved a share repurchase program on Friday, December 19th that permits the company to buyback $70.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 12.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Malibu Boats Company Profile

Malibu Boats, Inc is a leading designer, manufacturer and distributor of performance sport boats for the recreational boating market. The company’s product portfolio includes the premium Malibu® brand and the value-oriented Axis® Wake Research line, as well as Cobalt® boats following its 2020 acquisition. Malibu’s vessels are engineered to serve water-sports enthusiasts, with models optimized for wakeboarding, wakesurfing and waterskiing.

Founded in 1982 by water-sports enthusiast Jack Springer, Malibu Boats is headquartered in Loudon, Tennessee.